Section 243 of the
Australian Securities and Investments Commission Act 2001 sets out the
Parliamentary Committee's duties as follows:
- to inquire into, and report
to both Houses on:
-
activities of ASIC or the Panel, or matters connected with such
activities, to which, in the Parliamentary Committee's opinion, the Parliament's
attention should be directed; or
-
the operation of the corporations legislation (other than the excluded
provisions); or
-
the operation of any other law of the Commonwealth, or any law of a
State or Territory, that appears to the Parliamentary Committee to affect
significantly the operation of the corporations legislation (other than the
excluded provisions); or
-
the operation of any foreign business law, or of any other law of a
foreign country, that appears to the Parliamentary Committee to affect
significantly the operation of the corporations legislation (other than the
excluded provisions); and
- to examine each annual
report that is prepared by a body established by this Act and of which a copy
has been laid before a House, and to report to both Houses on matters that
appear in, or arise out of, that annual report and to which, in the
Parliamentary Committee's opinion, the Parliament's attention should be directed;
and
- to inquire into any question
in connection with its duties that is referred to it by a House, and to report
to that House on that question.
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